[The following information applies to the questions displayed below) Alphabet Co

Question

[The following information applies to the questions displayed below) Alphabet Company, which uses the perlodic inventory method, purchases different letters for resale. Alphabet had no beginning Inventory It purchased A thru G in January at $6.00 per letter. In February, It purchased H thru L at $8.00 per letter. It purchased M thru R in March at $9.00 per letter. It sold A, D, E, H,J and N in October. There were no additional purchases or sales during the remainder of the year 2.00 points If Alphabet Compeny uses the LiFO method, whot is the cost of Rs ending inventory? O $54 O 5106 O $36 O $82 O Type here to search la 144

Explanation / Answer

Units Unit cost Total Jan 7 6 42 Feb 5 8 40 March 6 9 54 Cost of ending inventory under LIFO = (7*6)+(5*8) = $82 Option 4 is correct

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